This can cover the cost of legal claims made against you if someone is injured or their property is damaged as a result of your business activities.
Self-employed insurance is a term used for any number of business insurance policies that individuals who work for themselves can take out. This would include anybody who’s a sole trader, freelancer, consultant, or contractor.
You're not legally required to have any form of self-employed insurance unless you have staff. But even if you work alone, it’s strongly recommended. Without insurance, you’d be responsible for any costs associated with accidents, injuries, reputational damage, negligence or property damage that occur as a result of your business activities. This could lead to significant financial losses that could potentially put your business and personal finances at risk.
Overall, self-employed insurance can provide financial protection for individuals who have no employer to fall back on if something goes wrong. It's important to carefully evaluate your risks and choose the right covers to protect your business and assets.
This can cover the cost of legal claims made against you if someone is injured or their property is damaged as a result of your business activities.
This protects you if a client makes a claim against you for negligence, errors or omissions in your work, which causes them to lose money.
If you employ anyone other than immediate family members, even on a temporary basis, you’re likely to need employers’ liability insurance. This can cover the cost of compensation claims made by staff who are injured or become ill as a result of their work.
This covers you if you are unable to work due to illness or injury, by providing a regular income to replace your lost earnings.
This can cover the cost of legal claims made against you if someone is injured or their property is damaged as a result of your business activities.
This protects you if a client makes a claim against you for negligence, errors or omissions in your work, which causes them to lose money.
If you employ anyone other than immediate family members, even on a temporary basis, you’re likely to need employers’ liability insurance. This can cover the cost of compensation claims made by staff who are injured or become ill as a result of their work.
This covers you if you are unable to work due to illness or injury, by providing a regular income to replace your lost earnings.
The cost of self-employed insurance depends on the type and level of policies required, the size of the business, and other factors.
For example, the more employees you have the higher the risk that one of them could be injured in work. Or maybe the type of work you do carries a greater risk to the public - scaffolders pose a greater risk than copywriters, for example.
The amount of cover you take, and the excess you're prepared to pay, can all influence the overall cost too. It's important you pay for the cover you need - too much cover can mean you're paying more than you need to and too little cover can mean the policy isn't fit for purpose. If you have any questions you should check in with the insurance provider.
We qualify, quantify and offer insurance using data, analysis and technology, and we serve a wide range of business types — from dog walkers and dieticians, to landlords and locksmiths. Enro Ltd t/a Superscript is authorised and regulated by the Financial Conduct Authority.
Some types of insurance may be mandatory depending on the nature of your business. Employers’ liability insurance is usually a legal requirement if you have temporary or permanent staff. Other types of insurance are optional, but could be worth considering to protect your business. Also, some clients will only work with you if you have a certain kind of cover, such as professional indemnity.
Yes, many insurance companies, brokers and comparison sites like money.co.uk offer online quotes for self-employed insurance. It's a good idea to compare multiple quotes from different providers to find the best coverage and price for your needs.
You can usually cancel your self-employed insurance policy at any time, although there may be fees or penalties for doing so. It's important to carefully review the terms and conditions of the policy before purchasing to understand the cancellation policy.
If you have specialist equipment, machinery or other expensive work-related items business insurance is probably a good idea. Just ensure you check what your home contents insurance will protect before getting additional cover.
Bear in mind that if you host meetings with clients from home, you may need public liability cover.
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